🚨 ALARMING NEWS ALERT EVERYONE ‼️‼️🚨🚨

🚨 ‼️‼️⚠️ Beware of Crypto Pump-and-Dump Schemes: A Cautionary Tale for Investors ⚠️

During the height of the last bull market, I unwittingly became part of a Telegram group orchestrating a pump-and-dump scam. As the market boomed, I noticed obscure coins skyrocketing by up to 500% within mere minutes, only to plummet just as quickly. With no significant news or updates to explain these drastic price shifts, I grew increasingly suspicious of potential market manipulation.

Upon deeper investigation, I discovered the reality behind these pump-and-dump operations, which are alarmingly common in the crypto space. After joining the group, I received detailed instructions about upcoming events, including the specific coin, timing, and exchange. On the given day, the group would flood the market, buying large quantities to artificially inflate the price. This, in turn, triggered unsuspecting investors to jump in due to FOMO, unknowingly falling into the trap.

To safeguard investors, I believe that exchanges should consider pausing withdrawals when coins experience unusual, rapid price increases. In fact, Binance took similar action with DREP in 2021, preventing many investors from falling victim. Stay alert for more insights on how these scams unfold and key strategies to steer clear of them in future bull markets.

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